Article IV. 50% Joint and Survivor Pension

Section 1. General.

The 50% Joint and Survivor Pension provides a lifetime pension for the married Participant plus a lifetime pension for his (or her) surviving legal spouse, starting after the death of the Participant or Pensioner. The monthly amount payable to the surviving legal spouse is one-half the monthly amount payable to the Participant or Pensioner. When a 50% Joint and Survivor Pension is in effect, the monthly amount of pension earned is reduced in accordance with the provisions of Section 5 from the full amount otherwise payable.
Each Participant shall be provided with a written general description of the 50% Joint and Survivor Pension, the circumstances under which it will be provided unless the Participant has elected not to have benefits provided in that form, the availability of such election, a general explanation of the relative financial effect on a Participant's pension of such election, the availability of additional information and how such additional information may be obtained. This information shall be provided at least 30 days but not more than 180 days before the Participant's Annuity Starting Date.

Section 2. Effective Date.

The provisions of this Article apply only to pensions which are effective on or after January 1, 1976.

Section 3. Upon Retirement.

  1. A pension shall be paid in the form of a 50% Joint and Survivor Pension to a married Participant unless the Participant has filed with the Trustees in writing a timely rejection of that form of Pension, subject to all the conditions of this Section.
  2. A married Participant may reject the 50% Joint and Survivor Pension (or revoke a previous rejection) at any time during the period not more than 180 days prior to the Annuity Starting Date or less than 30 days after the Participant receives the written explanation and information described in Section 1 of this Article. A Participant shall in any event have the right to exercise this choice up to 180 days after he has been advised by the Trustees of the effect of such choice on his pension.

Section 4. Before Retirement.

If a married Participant dies at a time when he has met the eligibility requirements for a Vested Pension in accordance with Section 6(a) of Article III, but before the Annuity Starting Date of the Participant's pension, a pension shall be paid to his surviving legal spouse.

  1. Subject to subsection (b) below, the surviving legal spouse of a Participant who dies before the Participant's Annuity Starting Date may apply for and receive the pre-retirement 50% Joint and Survivor Pension to which he or she is entitled on or after the earliest date on which the Participant could have retired and begun receiving pension benefits. Payments shall begin as of the surviving legal spouse's Annuity Starting Date, determined underSection 26 of Article I. If the Trustees confirm the identity and whereabouts of a surviving legal spouse who has not applied for benefits by Normal Retirement Age or, if later, the first of the month following the Participant's death, payments to that surviving legal spouse (subject to the provisions of Article VIII, Section 7) will begin automatically as of that date.
  2. 1.    If a Participant dies before reaching Normal Retirement Age, any pre-retirement 50% Joint and Survivor Pension with respect to that Participant shall be paid starting as of no later than the first day of the month following the day the Participant would have reached Normal Retirement Age; provided, however, that with regard to Same-Sex Domestic Partners, those benefits shall be paid on the first day of the calendar month following the Participant's death.

2.    If a Participant dies on or after Normal Retirement Age, any pre-retirement 50% Joint and Survivor Pension with respect to that Participant, whether payable to a non-spouse designated Beneficiary, a surviving legal spouse or a Same-Sex Domestic Partner, shall be paid starting as of the first day of the month following the Participant's death.
3.    Subject to Article VIII, Section 7 regarding small-benefit cashouts and Article V, Section 1(b) regarding alternate forms of payment, the pre-retirement 50% Joint and Survivor Pension shall be payable to the non-spouse designated Beneficiary, surviving legal spouse or Same-Sex Domestic Partner over the remainder of that individual's life.

  1. The monthly amount payable to the contingent annuitant of a 50% Joint and Survivor Annuity shall be determined as follows:
  2. If such Participant's death occurs after he has satisfied the requirements for an Early Retirement Pension, the amount of such 50% Joint and Survivor Pension shall be calculated as if the Participant had retired on a 50% Joint and Survivor Pension on the day before his death.
  3. If such Participant's death occurs before he has satisfied the requirements for an Early Retirement Pension, the amount of such 50% Joint and Survivor Pension shall be determined as if the Participant had terminated employment on his date of death, survived until his earliest retirement date, retired on a 50% Joint and Survivor Pension on his earliest retirement date, and then died on the day he reached his earliest retirement date.
  4. In the event the contingent annuitant elects to delay commencement of the pre-retirement 50% Joint and Survivor Pension to a date later than the Participant's earliest retirement date, the benefit shall be determined as if the Participant had died on the eligible spouse's Annuity Starting Date.

"Earliest retirement date" means the earliest date at which the Participant would have become eligible for an Early Retirement Pension, a Regular Pension, or a Vested Pension based on his years of Vesting Service and Pension Credit at his date of death."

  1. In the case of a death occurring on or after January 1, 2007, if a Participant dies while performing qualified military service (as defined in Code Section 414(u)), the survivors of the Participant are entitled to any additional benefits (other than benefit accruals relating to the period of qualified military service) provided under the Plan as if the Participant had resumed and then terminated employment on account of death.

Section 5. Adjustment of Pension Amount.

When a 50% Joint and Survivor Pension becomes effective, the amount of the Participant's monthly pension shall be reduced in accordance with the following:
a.    For an Annuity Starting Date prior to February 1, 2006, the pension amount shall be adjusted as follows:
1.    Non-Disability Pensions. If payment of a pension, other than a Disability Pension, is to be made in the form of a 50% Joint and Survivor Pension, the pension amount shall be adjusted by multiplying it by the following percentage: 91.0 percent minus .4 percentage points for each year the spouse's age is less than the Participant's age or plus .4 percentage points for each year the spouse's age is greater than the Participant's age; provided, however, that in no event shall the resulting percentage be greater than 100.0 percent.
2.    Disability Pensions. If payment of a Disability Pension is to be made in the form of a 50% Joint and Survivor Pension, the pension amount shall be adjusted by multiplying it
by the following percentage: 83.0 percent minus .4 percentage points for each year the spouse's age is less than the Participant's age or plus .4 percentage points for each year the
spouse's age is greater than the Participant's age; provided, however, that in no event shall the resulting percentage be greater than 100.0 percent.
b.    For an Annuity Starting Date on or after February 1, 2006, the pension amount shall be adjusted by multiplying it by the actuarial equivalent factor determined using the mortality table as described in Section 417(e) of the Internal Revenue Code and as specified in Revenue Ruling 2001-62, and an interest rate of 6.50%. However, in no event shall the resulting amount be less than the pension amount accrued through January 31, 2006 reduced according to the basis set forth in Section 5(a) above.

Section 6. Additional Conditions.

a.    In the event the Participant dies before retirement, the 50% Joint and Survivor Pension shall not be payable unless the Participant and his legal spouse have been married throughout the one-year period ending on the Participant's date of death.
b.    The 50% Joint and Survivor Pension shall not be payable unless the Participant and his legal spouse are married on the Annuity Starting Date of the Participant's Pension.
c.    The Trustees shall be entitled to rely on the written representation last filed by the Participant before his pension payments commenced as to whether he or she is legally married. If such representation later proves to be false, the Trustees may adjust for any excess benefits paid as the result of the misrepresentation.
d.    Any written election, rejection or revocation (including any change of a previous choice) made under Article IV shall not take effect unless (a) the spouse of the Participant consents in writing to such election, (b) such election designates a Beneficiary (or a form of benefit) which may not be changed without spousal consent (or the consent of the spouse expressly permits designations by the Participant without any requirement of further consent by the spouse), and (c) the spouse's consent acknowledges the effect of such election and is witnessed by a notary public. Notwithstanding the preceding sentence, no spousal consent shall be required if it is established to the satisfaction of the Trustees that spousal consent may not be obtained because there is no spouse, because the spouse cannot be located, or because of such other circumstances as the Internal Revenue Service may by regulations prescribe.
e.    Election or revocation may not be made or altered after payment of the pension has commenced.
f.    The rights of a prior spouse or other family member to any share of a Participant's pension as set forth under a "qualified domestic relations order" as defined by Section 206(d)(3) of ERISA, shall take precedence over any claims of the Participant's spouse at the time of retirement or death.

Section 7. Continuation of 50% Joint and Survivor Pension Form.

The monthly amount of the 50% Joint and Survivor Pension, once it has become payable shall not be increased if the spouse is subsequently divorced from the Pensioner or if the spouse predeceases the Pensioner.